The Rising Cost of College

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The Rising Cost of College

79: percentage growth of college tuition between August 2003 and August 2013
2X: that’s twice as costs for medical care.
And 3X: the as the overall Consumer Price Index during that same period.

Overall, the cost of college has gone up over 500% since 1982.

Put in perspective:
If you spent $10,000 for a college education in 1982,
And had the increase in college tuition gone at the same rate as inflation:
That same year of college education would cost $24,471.61 today.
Instead, that year of college education actually costs over $50,000 today.

From 1984-1985 to 2014-2015 the average published Tuition and Fees for:
• Private 4-year institutions – up 146% (From $12,716* to $31,231)
• Public 2-year colleges – up 150% (From $1,337* to $3,347)
• In-state students at public 4-year institutions – up 225% (from $2,810* to $9,139)
*1984 prices adjusted to 2014 dollars

Why Are College Costs Rising?

• Appropriations are money set aside by governments to be used for a specific purpose. As state and local governments cut appropriations to colleges, tuition costs rise to make up the difference

• Institutional Subsidies are proportion of costs paid for from institutional sources. They typically come from state and local appropriations; at private institutions they come from private gifts, investment returns, or endowment income. During recessions, subsidies dry up.

5 most expensive educations, 2012-2013
1.Sarah Lawrence College, New York: $61,236
2.New York University, New York: $59,837
3.Harvey Mudd College, California: $58,913
4.Columbia University, New York: $58,742
5.Wesleyan University, Connecticut: $58,202

Rising-college-costs

Sources:

http://www.usnews.com/news/articles/2013/10/23/charts-just-how-fast-has-college-tuition-grown
http://trends.collegeboard.org/college-pricing/figures-tables/tuition-fees-room-board-time-1974-75-2014-15-selected-years
http://trends.collegeboard.org/college-pricing/figures-tables/tuition-fees-room-board-time
http://www.forbes.com/sites/steveodland/2012/03/24/college-costs-are-soaring/
http://nces.ed.gov/pubs2015/2015012.pdf
http://trends.collegeboard.org/college-pricing/figures-tables/average-rates-growth-published-charges-decade
http://www.bloomberg.com/news/2013-08-26/college-costs-surge-500-in-u-s-since-1985-chart-of-the-day.html
http://www.cnn.com/2015/01/09/opinions/granderson-community-college/
http://inflationdata.com/Inflation/Inflation_Articles/Education_Inflation.asp
http://www.finaid.org/savings/tuition-inflation.phtml
http://www.sheeo.org/sites/default/files/publications/SHEF_FY13_04172014.pdf
http://www.cbpp.org/cms/?fa=view&id=4135#_ftn1
http://www.bloomberg.com/news/2014-11-13/college-tuition-in-the-u-s-again-rises-faster-than-inflation.html
http://www.deltacostproject.org/sites/default/files/products/Delta%20Cost_Trends%20College%20Spending%202001-2011_071414_rev.pdf
http://www.deltacostproject.org/sites/default/files/products/issuebrief_01.pdf
http://www.nbcnews.com/_news/2013/04/09/17658326-meet-your-new-professor-transient-poorly-paid?lite
http://nces.ed.gov/fastfacts/display.asp?id=98
http://aquadoc.typepad.com/waterwired/2012/08/post.html

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